Batch update many many rows at once with entirely different values.
(Agree that the “WHEN NOT MATCHED DO NOTHING” is effectively the default behavior.)
Use case is the Outbound Prober processes for https://heiioncall.com/ which can do thousands of HTTP requests per second, then aggregate all those row updates into a single query (or single transaction, which in practice is a single query).
We can do these batched updates very, very fast using INSERT … ON CONFLICT. No need to re-parse a differently shaped query, only a single index rebuild. Smooth :)